Sumitomo Mitsui Trust Group Inc. Decreases Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Sumitomo Mitsui Trust Group Inc. lowered its position in Alibaba Group Holding Limited (NYSE:BABA) by 1.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 46,097 shares of the specialty retailer’s stock after selling 824 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Alibaba Group were worth $6,095,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new position in Alibaba Group in the 1st quarter valued at $31,000. Inlight Wealth Management LLC purchased a new position in Alibaba Group in the 1st quarter valued at $31,000. ORG Partners LLC lifted its holdings in Alibaba Group by 950.0% in the 1st quarter. ORG Partners LLC now owns 315 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 285 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its holdings in Alibaba Group by 59.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer’s stock valued at $46,000 after purchasing an additional 200 shares in the last quarter. Finally, Redwood Park Advisors LLC purchased a new position in Alibaba Group in the 4th quarter valued at $52,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 1.8%

Shares of NYSE:BABA opened at $108.67 on Friday. The business has a 50-day moving average price of $119.42 and a 200 day moving average price of $113.48. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $259.31 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 0.48 and a beta of 0.22. Alibaba Group Holding Limited has a 12-month low of $72.95 and a 12-month high of $148.43.

Alibaba Group Cuts Dividend

The firm also recently disclosed a — dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be given a dividend of $0.95 per share. This represents a dividend yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group’s payout ratio is 13.83%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Arete Research lowered Alibaba Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 24th. Robert W. Baird decreased their price objective on Alibaba Group from $147.00 to $142.00 and set an “outperform” rating on the stock in a report on Friday, May 16th. Loop Capital set a $176.00 price target on Alibaba Group in a report on Friday, May 16th. Citigroup reduced their price target on Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Morgan Stanley set a $180.00 price target on Alibaba Group in a report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $154.13.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.